#emini #spfutures #SP500 #ES

Market Pressures_

Copper is up with equities. Gold and silver dropped with the vaccine news – no more stimulus?

Crude oil and natural gas both moved up with the hope of renewed economic activity.

The US 30 yr Treasuries move down with the same hopes that the demand for money would bring rates up.

The US Dollar continues the long trend down.

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S&P 500 Futures_

Monthly – The move down was triggered this last month but now the new high has made that trigger moot. Trade pressures are up. Volumes closed the month of October as bullish. The next target down is 3061. The next target up is 3948 and would confirm any weekly move higher.

Weekly – A big retracement reversal of the move down. Trade pressures now down into the neutral zone.  Volumes are bullish. The next target up is the upper median line at 3642. The close above 3550 does confirm the daily move higher. A move below 3381 would confirm any daily move lower.

Daily – Flat. In the move up from the 3533 Nov 10th long entry. Trade pressures are up but declining. Volumes are bullish. In a retracement move down after the 3533 long entry. The next target down is 3433. A close below 3364 would confirm the move down.

Profit taking in the WFH (work from home) stocks continues.

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Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio tech (ZM)  and medical stocks (QDEL) dropped hard with the vaccine news this last week. The portfolio stocks were down for the week and are now valued at approximately $109,000, up 9% for the YTD. This move up has absorbed the March-April 2020 down move of 32%.

The portfolio fundamentals continue to be important and have performed well in this reporting cycle.

 

[The author may have long or short positions in any of the securities mentioned.]